@Andy Rousch, I recommend you look at the Philadelphia and Allentown markets if you want to be a passive investor, or stay in your local community if you want to be hands-on. 

Cash out while prices stay high.

Regarding the property manager, you'll have to interview them to see if you want that person to stay on our not.

Some cities have rules about tenants having he right to stay after a property is sold unless the new owner is moving in.

I am thinking about perhaps holding three months rent in escrow and asking her to stay a couple extra months ahead of rent.

So a recent podcast and similar timed stay in an airbnb in another city along with my current market severe lack of inventory (yet too high new construction costs) lead me into thinking about this topic.Has anyone on here converted buildings like this into multiple condos and developed an HOA and sold them separately?

They even told us that they went to legal aid and that the attorneys there advised them that we have to allow them to stay month to month after the lease expires (which I know isn't true and I told them to have those attorneys contact us). 

@Farris Roach III im learning this stuff too, stay in the game and be patient

So, should I try to buy in the Tampa market and manage it from NC or just stay in the Raleigh Area?

I have no idea what I'm pre approved for, but I want to stay in the range of 150k.